FDI对中国创业的门槛效应——基于省级数据的经验研究

The Threshold Effect of FDI on China s Entrepreneurship——Empirical Study Based on Provincial Data

本文基于创业知识溢出理论和吸收能力理论,构建非线性面板门槛回归模型。利用2000-2016年中国30个省市的平衡面板数据,基于人力资本异质性,实证检验FDI与中国创业之间的门槛效应。研究发现:整体上FDI对中国创业起抑制作用,但基于人力资本异质性角度,FDI对中国创业存在双重门槛效应,具体表现为:人力资本低于第一道门槛值时,FDI对创业产生抑制作用;人力资本处于两道门槛值之间时,FDI促进创业;人力资本高于第二道门槛值时,FDI抑制创业。由此可见,FDI对中国创业活动的影响是动态的,受人力资本水平的调节。上述结论有助于政府根据人力资本水平的差异,采取因地制宜政策以促进创业。

Based on Knowledge Spillover Theory of Entrepreneurship and Absorptive Capacity theory,this paper constructs a nonlinear threshold regression model.Based on the heterogeneity of human capital,this paper empirically tests the threshold effect between FDI and entrepreneurship in China by using the balance panel data of 30 provinces from 2000 to 2016.The empirical results show that FDI has a negative effect on entrepreneurship,while,based on the heterogeneity of human capital,FDI has a double threshold effect on China s entrepreneurship.Specifically,when the level of human capital is lower than the first threshold,FDI has a restraining effect on entrepreneurship;when the level of human capital is between the two thresholds,FDI promotes entrepreneurship;when the level of human capital is higher than the second threshold,FDI inhibits entrepreneurship.Therefore,the impact of FDI on China s entrepreneurial activities is dynamic and regulated by the level of human capital.The above conclusions are helpful for the government to adopt local policies to promote entrepreneurship according to the heterogeneity of human capital.